In-house bookkeeper vs outsourced accountant in Cyprus
For most Cyprus SMEs, outsourcing is cheaper and lower-risk than hiring in-house once you count the full cost of an employee — salary plus roughly 15.4% in employer contributions, software, recruitment and the time to manage them. Here's the side-by-side.
| Factor | In-house bookkeeper | Outsource to us |
|---|---|---|
| Cost | Salary + ~15.4% employer contributions + software + recruitment + management time | One fixed monthly fee — no employment on-costs, software included |
| Knowledge | Limited to one person's experience | A whole team across tax, VAT, payroll and audit |
| Cover | Gaps during holiday, sickness or if they leave | Always covered — no single point of failure |
| Software | You buy and maintain it | Included — cloud accounting with real-time access |
| Compliance risk | Rests on one person keeping up with the law | Senior review + a live compliance calendar |
| Scalability | Re-hire as you grow | Scales up and down with your needs |
The hidden cost of "just hiring someone"
A full-time bookkeeper doesn't cost their salary — it costs their salary plus ~15.4% employer contributions (Social Insurance, GHS, Redundancy, HRDA and the Social Cohesion Fund within the €68,904 cap), plus software, recruitment, holiday/sick cover and the management time to supervise the role. One person also can't match a team that spans tax, VAT, payroll and audit — or the senior review that keeps you out of trouble.
Frequently asked questions
For most SMEs, outsourcing is cheaper once you add up the full cost of an employee: salary plus about 15.4% employer contributions, software, recruitment and the management time to supervise them. A fixed monthly fee with no employment on-costs is usually lower and more predictable.
More than the salary. On top of pay you fund employer Social Insurance and funds (~15.4% within the cap), software licences, recruitment, training, equipment and management time — and you carry the risk if they're off or leave.
Usually only at larger scale, or when finance is so central and high-volume that a full-time, dedicated person (or team) is justified — often alongside an outsourced firm for audit, tax and senior oversight.
Yes — many businesses outsource bookkeeping, VAT and payroll while keeping light internal admin, or use us for senior tax and audit oversight on top of an internal bookkeeper. We scope it to fit.
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